10 Exchange Place in Jersey City — Courtesy: Cushman & Wakefield
By Joshua Burd
Three tenants have leased a combined 38,441 square feet at a newly updated, 30-story office tower in Jersey City, brokers with Cushman & Wakefield announced last week.
The real estate service firm represented Manulife Investment Management, which manages the 748,007-square-foot building, in the transactions at 10 Exchange Place. The largest among them was a 24,408-square-foot renewal by global air conditioning giant Daikin Industries Ltd., while Chain IQ and Paycom leased 9,504 and 4,529 square feet, respectively.
C&W Executive Vice Chairman Robert Lowe, Senior Director Nicholas Dysenchuk and Managing Director David DeMatteis represented ownership.
“Manulife Investment Management’s investment in ongoing upgrades to this trophy asset has helped fuel our leasing success,” said DeMatteis, who arranged three separate leases over the past 11 months. “In the midst of the COVID-19 pandemic, we are pleased to bring new tenants to the building and to see the completion of recent renovations.”
Located along the Hudson River, with views of Manhattan, 10 Exchange Place has been above 90 percent leased for the past three years, C&W said. The building benefits from recent renovations including a new lobby designed by MdeAS, the New York-based architecture firm, along with revamped multitenant elevator landings and upgraded elevators with destination dispatch controls.
The brokerage team also highlighted the tower’s proximity to retail, restaurants, entertainment and lodging, plus direct access to the Exchange Place PATH station.
“With in-demand amenities, access to mass transit and some of the most robust parking on the waterfront, 10 Exchange Place has tremendous appeal for office tenants looking for an alternative to New York City,” DeMatteis said. “It’s not surprising that this asset continues to maintain some of the best occupancy in New Jersey.”
